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According to the AM:PM hotel database there are 1,403 hotels in the UK providing a total of 53,625 bedrooms. The vast majority of the letting stock comprises 4-star (27.1% of bedrooms), 3-star (31.6%) and budget hotels (29.6%). Nationally, there is a very clear trend towards a more polarised market; during the past 10 years over 85% of hotel closures have occurred in the 2-star and 3-star sectors, and the active development pipeline currently comprises mainly new hotels in the budget and


Core asset classes yields are hardening, and yields in London and the South East are becoming weak on the back of increased uncertainty. This leads to investors continuing to turn to regions such as Yorkshire and the North East, where alternative investments such as hotels are increasingly attractive on the back of improving trading performances.


Corporate interest remains strong with international groups moving into the UK...


4-star sectors (around 75% of all proposed development).


The leisure and hospitality industry in Yorkshire and the North East remains of strong interest to both domestic and international investors, with a number of notable sales taking place over the last year. Corporate interest remains strong with international groups moving into the UK, which was evidenced in separate sales of the Crown Hotels in Scarborough and Harrogate (Colliers International Hotels Valuations advised on both transactions). On the domestic front, the purchase of the Majestic in Harrogate and Redworth Hall in Durham by the Cairn Group, and the purchase of the Mercure County Hotel in Newcastle by the Gainford Group (again, valued by Colliers International), shows that regional investors are continuing to keep pace with their London and international counterparts through aggressive expansion plans.


The Colliers International Hotels Agency team continue to match buyers and sellers successfully, in a market that has shown strong demand for high income producing hotel assets in 2017, such


as the 102-bedroom Holiday Inn, Doncaster which was sold through Colliers early in the year. The market has also continued to respond enthusiastically to the sale of hotels which comprise large, well-located property assets with potential to add value through new investment and business development. Great opportunities which were snapped up as the year progressed included the 108-bedroom Blackwell Grange Hotel, Darlington and the 63-bedroom Rutland Hotel, Sheffield.


As well as advice given in relation to the transactions noted above, the Colliers International Hotels Valuations team valued a number of high quality hotel assets in the region including the Sandman Signature Hotel in Newcastle, the new Premier Inn in Whitley Bay and the newly-opened Hampton by Hilton hotel at Humberside Airport, amongst many others.


Leigh Parsons Director | Hotels Valuation | +44 113 200 1833 | leigh.parsons@colliers.com


Colliers International | Perspective


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